Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    0 Leonard Ave Albemarle, NC 28001

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $379,000

    Commercial land for sale in Albemarle, near retail and hotels.

    Type:Land
    Added:
    Nov 25, 2024
    Days on Market:
    494
    Last Refresh:
    Jan 20 at 7:56 am

    Property Features for 0 Leonard Ave

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Garry West

    Listing agent Garry West License #149828

    Listing office Four Seasons Realty Albemarle

    Listing date Nov 25, 2024

    Source Exprealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Four Seasons Realty Albemarle

    Overview

    Cleared Land in High-Traffic Area

    This cleared land parcel presents an excellent building opportunity within a high-traffic area of Albemarle, North Carolina. Zoned GHBD by the city, the property is situated in close proximity to Walmart, hotels, and various retail spaces, offering potential for commercial development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Albemarle
    County
    Stanly
    State
    North Carolina
    Longitude
    -80.1772
    Latitude
    35.3512

    Nearby Similar for Sale

    • $395,000

      Albemarle Multifamily Investment Opportunity

      Stabilized multifamily asset in Albemarle's revitalized core with value-add potential.
      208 S 3rd Street, Albemarle, NC 28001
      View Details
    • $1,999,000

      Albemarle Commercial Investment Opportunity

      Fully leased commercial building on 2.87 acres in Albemarle.
      702 Henson Street, Albemarle, NC 28001
      View Details
    • $219,900

      Commercial Lot on NC Hwy

      Commercial lot for sale in Albemarle, NC with road frontage.
      NC 24/27 Highway, Albemarle, NC 28001
      View Details
    • $259,900

      Turnkey Duplex in Albemarle, NC

      Ready duplex with updated features, ideal for rental income.
      218 Wilson Street unit: A&B, Albemarle, NC 28001
      View Details
    • $82,500

      Albemarle Wooded Acres Opportunity

      2.5 acres of wooded land with commercial and residential zoning.
      24992 Business 52 Highway, Albemarle, NC 28001
      View Details
    • $40,000

      Residential Lot in Albemarle, NC

      Residential lot with water and sewer available in Albemarle.
      Ross Drive unit: 1, Albemarle, NC 28001
      View Details
    • $995,000

      Albemarle Warehouse and Office Space

      Over 30,000 sqft warehouse and office in downtown Albemarle.
      241 W North Street, Albemarle, NC 28001
      View Details
    • $275,000

      Renovated Duplex Near Downtown Albemarle

      Income-producing duplex with recent renovations and convenient location.
      1610 Lowder Street, Albemarle, NC 28001
      View Details
    • $550,000

      Expansive Land Parcel in Albemarle

      28.75-acre lot zoned RA with development potential.
      Pennington Road, Albemarle, NC 28001
      View Details
    • $822,500

      Albemarle Land Prime Opportunity

      42.14 acre land ideal for residential development and investment.
      2329 E Main Street, Albemarle, NC 28001
      View Details
    • $494,000

      Land on E Main Street

      Two parcels totaling 0.86 acres with highway frontage.
      2012 E Main Street, Albemarle, NC 28001
      View Details
    • $49,900

      Albemarle Land Opportunity

      Approximately 1.5 acres of land for sale in Albemarle.
      Long Street unit: 21,22,23,24, Albemarle, NC 28001
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land for sale in Albemarle, near retail and hotels.
    Where is this commercial land located?
    The property is located at 0 Leonard Ave Albemarle, NC.
    What is the asking price?
    The asking price for this property is $379,000.
    What are key features of this property?
    This property features: High traffic location; Zoned GHBD by the City; Cleared land offers an excellent building opportunity
    (704) 982-5518
    We can help!
    Listing Contact
    Garry West
    Real Estate License ID: 149828
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!